By Dele Ogbodo/Daisy Dovidi
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has underscored the strategic importance of the Intra-African trade fair, jointly convened by Afreximbank, the African Union (AU), and the AfCFTA Secretariat.
She described it as the continent’s largest trade and investment marketplace.
Oduwole, expressed excitement that since its inception, the fair has facilitated deals exceeding $100 billion, with Nigeria’s hosting in 2027 expected to welcome over 50,000 delegates and support a deal pipeline estimated at more than $50 billion.
According to her, Nigeria will no doubt take the centre stage as the continental trade and creative Powerhouse with CANEX 2026 and IATF 2027
Oduwole, said Nigeria has formally commenced preparations to host two of Africa’s most significant continental gatherings—the Creative Africa Nexus (CANEX) Weekend 2026 and the Intra-African Trade Fair (IATF) 2027—with the inauguration of the IATF National Steering Committee.
Speaking at the inauguration in her welcome address, Oduwole, described the moment as the beginning of a national assignment that places Nigeria at the heart of Africa’s trade, investment, and creative economy agenda over the next two years.
She noted that the continental spotlight will rest on Nigeria as it prepares to host platforms that directly connect commerce, culture, and economic cooperation across Africa.
Oduwole, also underscored the significance of CANEX Weekend 2026, which will position Lagos as a focal point for Africa’s creative and cultural industries.
Through exhibitions, live productions, masterclasses, and digital marketplaces, CANEX is designed to link Africa’s fashion, film, music, art, and technology sectors directly to trade and investment opportunities.
She further noted that IATF 2027 will coincide with the 50th anniversary of FESTAC ’77, returning a major continental convening to the National Theatre, Iganmu.
According to her, this convergence reflects Nigeria’s unique ability to combine cultural heritage with contemporary trade leadership and economic ambition.
Nigeria’s selection as host, she explained, followed Presidential approval, extensive stakeholder engagement, a comprehensive bid process, and a rigorous multi-day due diligence exercise involving over 15 Ministries, Departments, and Agencies, conducted by Afreximbank and the African Union.
This outcome, she said, reflects strong continental confidence in Nigeria’s capacity to coordinate across institutions and deliver events at scale.
Oduwole, expressed appreciation to the Executive Governor of Lagos State, His Excellency Babajide Sanwo-Olu, for the State’s consistent support and clear demonstration of readiness to host events of this magnitude, particularly at the National Theatre and across Lagos.
With the inauguration of the National Steering Committee, the Minister stated that coordinated delivery has formally begun.
She noted that the events are projected to support over 50,000 jobs, generate more than $100 million in direct economic activity for Lagos through hospitality and services, and catalyse at least $5 billion in trade and investment opportunities for Nigerian businesses.
Beyond the numbers, she emphasized that the events will further position Nigeria as a leading hub for AfCFTA trade, a preferred destination for major international convenings, and a centre for Africa’s creative and industrial enterprise.
The Steering Committee, she explained, will guide implementation by supporting the constitution of dedicated working groups, with focal persons nominated from relevant Ministries and Agencies to drive delivery across government.
The Head Press and PR, Augustina Obilor-Duru, while amplifying Oduwole’s assertion, said: “The Minister concluded by describing the hosting mandate as a continental trust placed in Nigeria and expressed confidence that, through collective effort, CANEX 2026 and IATF 2027 will showcase the country’s trade capacity, cultural strength, and ability to work seamlessly across government in line with national priorities under the Renewed Hope Agenda.
